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20121027
20121104
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know, put katrina at one end. that was $100 billion. put irene at another end. that was a $13 billion event. i've seen 30 to 50. it feels, especially after you see that aerial video of what happens on the shores of new jersey, like it may be more along the 30 to 50 range when you talk about total property damage and you talk also about lost business activity. it was down in wall street. >> especially at a time when the economy was -- there was a sense it was starting to slow down again. we haven't had the strongest economy anyway. are we more vulnerable to this? >> i don't want to say there's an up side to this, but you could have a situation where some of the construction and some of the rebuilding happens in the same quarter where you had the business loss, so you have a really net no change to gdp. if there are major construction projects undertaken -- for example, let's say they decide the biggest financial center in the world should not be a foot over sea level, that's a major investment that could have a positive back on gdp. >> that's a great point, steve. as far as the idea th
it? >> fema responds rather adroitly to -- katrina notwithstanding, to these disasters. i suspect they're going to be quite responsive right now for those who have been displaced, who have lost family members, who don't have homes. i think there will be a rapid response from the federal government. >> i'm just saying, we could use that money in other areas right now. not necessarily the bond buying program. just an observation. >> maria, i got say, i don't know if the bond buying is actually helping. we're seeing a lot of bond buying. i don't know where that money is going to. we see unemployment raising. >> is survey showed pick ups in demand for most classes in lending right now. so it has had a positive effect in a place where it could matter. we have seen in general some of the interest rates that matter go down in the economy, including mortgages. >> and a big uptick in housing. >> maybe not perfect, but it seems to have had an effect. >> do we anticipate the typical pickup in economic activity following a natural disaster of this magnitude here, ron? >> bill, listen, it's go
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